The legendary Mayfair estate agency Wetherell is linking with London’s Dexters chain in a new partnership.
Wetherell, run by high profile chief executive Peter Wetherell, will retain its own name and continue to operate its own office in the exclusive central London location of Mount Street.
But under the deal Wetherell will receive marketing and operational resources to allow him to expand the lettings and property management side of the firm.
Peter Wetherell is one of the best known agents in central London, affectionately called the ‘Mayfair Guru’. He established his agency in 1982 and has built a reputation for dealing with the capital’s most expensive super prime property. Wetherell’s team advises on over £1 billion worth of residential instructions and has become one of the first stops for high and ultra-high-net worth individuals when they look to invest in prime central London.
He will join Dexters’ Prime Central London board as its new chairman; the PCL board representing 12 offices located in many of the capital’s most prestigious addresses, part of Dexters’ network of over 70 offices across London.
Wetherell will also leverage Dexters’ New Homes division and client base, which includes 100 developments currently being advised on or marketed, coinciding with Mayfair’s current building boom that will see over 500 new homes created, increasing the area’s population by 25 per cent.
Over 55 per cent of Mayfair properties are currently rented and Wetherell plans to double the size of its lettings and management department to service this growing sector, drawing upon Dexters’ support and experience of working with 27,000 landlords across the capital. Dexters’ Corporate Letting and International Relocation team handle 200 enquiries a week from companies and institutions relocating employees to London.
Peter Wetherell says:“As an independent estate agency specialising in Mayfair for the last 37 years, I have been seeking a partnership that will provide Wetherell’s clients with a wider Londonwide branch network and staff resource to tap into, Dexters is the perfect choice. The partnership with Dexters will allow me to strengthen and grow the Wetherell business over the coming years.
“Lettings are our first priority and Dexters will be working with Wetherell to provide enhanced lettings services and property management support. Working together will allow for a strengthened brand presence across Prime Central London, greater market intelligence and resource sharing in order to meet our clients’ every need.”
And Dexters chairman Jeff Doble adds: “Dexters have 35 offices in central London and currently have 80,000 customers looking for a London home. We are particularly strong in corporate lettings and International relocation, as well as first class property and building management. We are committed to help Peter grow his business and have an initial five year plan to work increasingly closely. It can be hard work running an independent business nowadays and we have the resources to free up Peter and his team, so they will have more time to focus fully on their clients and their property.”